Millions of dollars from wealthy donors have poured into the race for Colorado governor, much of which has been channeled into an advertising blitz in the lead-up to the June 30 primaries. 

In the Democratic race, Colorado Attorney General Phil Weiser has set a new fundraising record for a self-funded candidate in a gubernatorial primary, with $6,533,512 raised as of mid-June, according to campaign finance filings with the Colorado Secretary of State’s Office. 

His campaign has spent $6,071,643, with over $920,000 spent in the first half of June alone on television, radio, digital and print advertising. 

Weiser’s opponent, U.S. Sen. Michael Bennet, has raised the second-most on record for a self-funded candidate, bringing in $4,836,223. Bennet also recently loaned his campaign $950,000, and has spent $5,082,079. 

Much of Bennet’s campaign spending in June was on digital advertising — more than $378,000 — as well as on campaign events, lodging and travel, including airfare, on which his campaign spent more than $6,300. 

But while Weiser has outraised Bennet in direct donations, a super PAC formed to support Bennet’s campaign has raised nearly as much as both candidates combined. Super PACs, which are a type of political action committee, can raise and spend unlimited amounts of money to support a candidate, but are not allowed to coordinate or donate directly to that candidate’s campaign. 

Mike Bloomberg pours millions into pro-Bennet super PAC

The super PAC supporting Bennet, Rocky Mountain Way, has raised $10,294,704, much of which has come from one donor: former New York City Mayor Mike Bloomberg. 

Bloomberg, whose estimated net worth is $109.4 billion, has contributed more than $4.5 million to Rocky Mountain Way as of mid-June. A Democrat who ran for president in 2020, Bloomberg is one of the country’s biggest political donors. 

Rocky Mountain Way has spent $7,462,203, mostly on pro-Bennet advertising, including television and mailers. 

Jordan Fuja, a spokesperson for Bennet’s campaign, did not address the spending by Bloomberg when asked about it directly. Fuja, in an email statement, instead said that Bennet is “honored to have earned the support of more than 21,000 donors with a lower average donation than his opponent.”

Fuja also claimed that Weiser’s campaign has received tens of thousands of dollars from attorneys “with business in front of (the attorney general’s) office,” which Fuja said creates a “conflict of interest.”

A recent CBS Colorado article reported that Weiser’s campaign received about $75,000 from dozens of attorneys who work for law firms that were engaged in litigation or had reached settlements with the attorney general’s office. It’s not clear if those attorneys were directly involved in the litigation. 

In an email statement, Weiser campaign spokesperson Nate Jackson said that Weiser “doesn’t take contributions from anyone involved in active litigation against his office or who works at a corporation his office is in litigation with.”

Jackson said the attacks by Bennet’s campaign are “a distraction from the $1 million he personally loaned his campaign,” adding, “The real question voters need to be asking is: Who will pay off Michael Bennet’s $1 million loan?”

Loans by candidates can be paid back using campaign donations. 

Other major donations to the Bennet-aligned super PAC Rocky Mountain Way include $1.05 million from Brighter Future for Colorado, a nonprofit that does not disclose its donors and is considered to be a dark money group. Rocky Mountain Way also received $825,000 from the Colorado Trial Lawyers Association, $50,000 from Uber, $50,000 from Denver-based dialysis company DaVita, $25,000 from health insurer Cigna, and $10,000 each from Colorado PACs associated with American Family Insurance and American Property Casualty Insurance. 

Outside of the super PAC, Bennet’s campaign has also been supported by Voces Unidas Victory Fund, an independent expenditure committee that serves as a campaign-spending arm of the Western Slope-based immigrant advocacy nonprofit, Voces Unidas. 

Voces Unidas Victory Fund spent over $137,000 in May and June on pro-Bennet advertising. 

Fighting for Colorado, a super PAC formed to support Weiser’s campaign, has raised $1,282,311 and spent $714,785. Most of its spending in June went to advertising. The super PAC’s funds come largely from individual donors. 

Republican Victor Marx outraises GOP opponents, paid family for campaign work

On the Republican side, Victor Marx, who runs a faith-based nonprofit called All Things Possible Ministries, is leading his two other opponents in fundraising and spending. 

Marx has raised $2,841,691 and spent $2,639,073, much of which has gone to advertising, consulting, lodging and travel. His campaign also paid Marx’s daughter, Brie, a total of $20,040, and his son, Shiloh, $5,000 for work they did on Marx’s campaign. 

In an email, Roger Hudson, a spokesperson for Marx’s campaign, said Brie has nearly two decades of experience in retail and sales that include “managing multi-location operations, leading high-performing teams, and driving substantial revenue growth.”

Hudson said Brie was brought onto Marx’s campaign to lead the “development and execution of the campaign’s merchandise program, which has generated nearly $200,000 in revenue to date” and that a “significant portion” of the $20,040 was to cover her campaign-related travel expenses.

Hudson said Marx’s son, Shiloh, was paid to do voter data analysis. Hudson said Shiloh has “extensive experience in voter file evaluation and election integrity efforts, including founding Integrity First Alliance, an organization focused on ensuring accurate and up-to-date voter rolls in compliance with the National Voter Registration Act.”

“All payments were properly disclosed and reflect fair compensation for services rendered,” Hudson said. 

Two super PACs have also supported Marx’s campaign. This includes Victory for Colorado, which raised $133,924 and spent most of its money on advertising before shutting down in early May. Another super PAC, Freedom IEC, raised $497,850 and spent $476,203, including $ 400,000 in May and June on advertising, which included television and YouTube. 

One of Freedom IEC’s largest donors is Sema Construction, Inc., a construction firm based in Centennial, which has donated $435,000.

Other funding, spending by Republican candidates

The other two Republicans in the race, state Sen. Barb Kirkmeyer and state Rep. Scott Bottoms, have both raised significantly less compared to Marx. 

Kirkmeyer has raised $608,024, with $21,000 in loans. Her campaign has spent $541,861, with recent spending largely going to advertising. Kirkmeyer also has a super PAC supporting her campaign, Colorado Strong, which has spent $343,716 on advertising to boost Kirkmeyer and oppose Marx. 

Colorado Strong has supported various Republican candidates. It recently received a $25,000 donation from Joe O’Dea, a construction firm executive who was the Republican nominee for U.S. Senate in 2022, a race he lost to Bennet. 

Colorado Strong also recently received a $5,000 donation from Bruce Benson, who served 11 years as president of the University of Colorado from 2008 to 2019 and had an unsuccessful run for governor in 1994. Benson’s wife, Marcy, also recently donated $5,000 to the Colorado Strong super PAC.

Bottoms has raised $227,156 with $15,000 in loans. His campaign has spent $228,520, including a recent $4,000 digital advertising purchase and about $1,800 on yard signs and flyers.